Every business on the planet needs insurance. In fact, nearly one trillion ($1T) dollars are spent globally each year on commercial insurance to protect businesses from losses due to fires, injuries, lawsuits, etc. However, commercial insurance is plagued with a big problem. Businesses and insurers don’t trust each other. This results in a lot of economic waste: Missed opportunities, mispricing, and mistakes. Everyone is worse off.
By combining cutting-edge data science and a proprietary learning engine in a delightful-to-use software platform, Kalepa is solving these problems and turning every underwriter into a top underwriter. There are many challenging technical problems to tackle as we continue to build and expand our software -- and a massive opportunity to transform an ancient industry that comprises 6% of world GDP.
Kalepa's team members bring experience from Facebook, Google, Amazon, ClassPass, Mastercard, MIT, Berkeley, UPenn, and the Israel Defense Forces.
Kalepa is backed by IA Ventures, lead early-stage investors in TheTradeDesk (IPO, $38B valuation), Datadog (IPO, $32B), TransferWise (last valued at $5B), DataRobot ($2.7B), Flatiron Health (acquired for $2B), and several other unicorns and public companies.